Aristotle Capital Boston, LLC, an investment advisor, released its “Small Cap Equity Strategy” second quarter 2024 investor letter. A copy of the letter can be downloaded here. In the second quarter, the fund delivered a return of -1.56% net of fees (-1.41% gross of fees) outperforming the Russell 2000 Index’s -3.28% total return. Security selection drove the outperformance while allocation effects also contributed. For more information on the fund’s best picks in 2024, please check its top five holdings.
Aristotle Small Cap Equity Strategy highlighted stocks like PowerSchool Holdings, Inc. (NYSE:PWSC), in the second quarter 2024 investor letter. PowerSchool Holdings, Inc. (NYSE:PWSC) is a cloud-based software provider to the K-12 education market. The one-month return of PowerSchool Holdings, Inc. (NYSE:PWSC) was 0.80%, and its shares lost 4.73% of their value over the last 52 weeks. On July 26, 2024, PowerSchool Holdings, Inc. (NYSE:PWSC) stock closed at $22.57 per share with a market capitalization of $3.749 billion.
Aristotle Small Cap Equity Strategy stated the following regarding PowerSchool Holdings, Inc. (NYSE:PWSC) in its Q2 2024 investor letter:
“PowerSchool Holdings, Inc. (NYSE:PWSC), a leading provider of cloud-based software for K-12 education in North America, was removed from the portfolio following the announcement the company was being taken private by investment firm Bain Capital.”
Educators teaching students in a traditional classroom setting.
PowerSchool Holdings, Inc. (NYSE:PWSC) is not on our list of 31 Most Popular Stocks Among Hedge Funds. As per our database, 15 hedge fund portfolios held PowerSchool Holdings, Inc. (NYSE:PWSC) at the end of the first quarter which was 9 in the previous quarter. While we acknowledge the potential of PowerSchool Holdings, Inc. (NYSE:PWSC) as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. If you are looking for an AI stock that is as promising as NVIDIA but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
In another article, we discussed PowerSchool Holdings, Inc. (NYSE:PWSC) and shared the list of stocks recently downgraded by analysts. Aristotle Capital Small Cap Equity Strategy established a position in PowerSchool Holdings, Inc. (NYSE:PWSC) during the first quarter of 2024. In addition, please check out our hedge fund investor letters Q2 2024 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
